Daily Archives: November 2, 2010 @ 10:01 pm (Tuesday)

Debt ceiling

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Potential economic nightmare coming up. Hoping for the best.

Looks like a total failure on my part to get the word out sufficiently to make a difference in policy.

On Tue, Nov 2, 2010 at 9:42 PM, wrote:
Now, we’re about to see the real risks of the legal constraints placed on gov’t spending via the debt ceiling. Can’t wait to see if the newly elected Tea Party/GOP Senator from Kentucky Rand Paul tries to filibuster the move to raise the debt ceiling. What will the wealthy benefactors of these nutjob Tea Party candidates do if they start acting according to their principles?

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European Output Growth Quickens More Than Estimated

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The core seems to be doing well by their standards, while the Greece and periphery GDP’s struggle, keeping overall unemployment just over 10%.

Overall deficits still high enough for modest overall growth.

Germany helped by exports to the other euro members, which means support of Greek and Irish finances which keeps them all solvent ‘helps’ Germany the most.

So Germans continue to work and export to the others who consume, as has been the post WWII case.

An outsider might call it a clever arrangement to extract war reparations, though wonder why the ‘winners’ continuously forgo untold trillions in lost output due to universal unemployment that dwarfs the benefits of receiving net German exports.

EU Headlines:

European Output Growth Quickens More Than Estimated

German VDMA Machine Orders Growth Slowed to 28% in September

German Machine Makers Say Strong Euro Hurts Competitiveness

Greece rules out restructuring its massive debts

Greece Could Extend Repayment of IMF Loans to 2021, Ta Nea Says

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